Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

Student Loan Relief

Posted on July 15, 2020 by The Sader Law Firm

The sad reality for most of my student loan clients is they have large federal and private student loan balances.  In many cases they also have co-signors, usually a parent or relative, who will be on the hook if the main borrower defaults.  Federal loans can be consolidated and placed in affordable repayment plans, but private loans are usually another story.  That said, there are options for dealing with private loans, even if you are in default. (1) Check your Statute of Limitations period (“SOL”).  All states have SOL deadlines for creditors to file collection lawsuits.  If the SOL has expired on a private student loan, the creditor is out of time to sue and obtain a judgment unless you make a voluntary payment to extend the SOL period (federal student loans do not have an SOL).  If sued after the SOL has passed, you still need to raise the…
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Business Bankruptcies Caused By the Coronavirus Pandemic

Posted on July 10, 2020 by The Sader Law Firm
Chapter 11 bankruptcy form

The novel coronavirus continues to spread across the United States. Although shutdowns are not in effect nationwide, many companies are seeing a drop in regular business. Some of these companies recently filed for Chapter 11 bankruptcy. Although individuals can file under this Chapter, Chapter 11 cases are often called business bankruptcies. CEC Entertainment, the parent company of Chuck E. Cheese, recently filed for Chapter 11 bankruptcy. The company also owns Peter Piper Pizza, a separate pizza chain with locations on the West Coast and across the Southwest United States.  Other well-known companies are feeling significant financial pressure due to the pandemic. GNC, a nationwide chain that sells health products and nutritional supplements, is also filing for Chapter 11 bankruptcy. The company said it plans to close more than 1,200 of its stores.  Other large companies sought bankruptcy protection over the past several months. JCPenney, 24-Hour Fitness, Hertz, Gold’s Gym, J….
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Michael J. Wambolt Certified in Consumer Bankruptcy Law

Posted on April 23, 2020 by The Sader Law Firm
Attorney Michael J. Wambolt

The American Board of Certification announced that Michael J. Wambolt, attorney with the The Sader Law Firm, in Kansas City, Missouri has successfully completed the requirements for national certification in Consumer Bankruptcy Law. To become certified, Mr. Wambolt, satisfied the following requirements: Full time practice of law for at least five years; Good standing in the bars of all states in where a license to practice law is held; Devoted at least 30% of practice time and at least 400 hours to bankruptcy related matters in the last three years; Documented involvement in consumer bankruptcy by providing information on cases practiced; Demonstrated commitment to continuing legal education by earning at least 60 hours of bankruptcy education in the past three years. Passed an extensive, day-long written examination covering consumer bankruptcy issues. The American Board of Certification (ABC) is a non-profit organization dedicated to serving the public and improving the quality…
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